If the rented property you are dealing with was difficult to rent or if you made a lot of concessions to rent to that tenant, it is best to follow this protocol. This report simply follows the contract that you and the tenant both signed. It makes sure that you will not lose financially. Although it may seem harsh, the tenant signed the legal contract in the same way as you. In our podcast, we actually discussed a real example of a tenant who wants to break the lease before moving in. You can get involved to hear how this story has evolved. If a tenant changes their mind about renting before the rental even starts, you may be confused and wonder what to do. If the lease has already been signed by both parties, the lessor and the tenant, it may not be possible to terminate the lease without breaching the conditions. Although frustrating, a tenant can change their mind at any time before signing a lease. Until the contract is signed, there is nothing that obliges them to rent the property and they cannot be forced to do so. Depending on the content of your rental agreement, there may be a clause allowing the lessor to collect an early cancellation fee.
Remember that as an owner, you have certain legal obligations and rights in this situation. It`s also important that you document absolutely everything – including a notice of termination written by the tenant. My tenant has signed a lease and he is supposed to move in, but he wants to resign. Where am I? For example, if they want to withdraw from a rental agreement before moving in, they can clearly see how to do so in their lease. Once you have signed the agreement, it will be mandatory. That means you have to honor him. Likewise, the owner must respect his end. That is why we have agreements to protect ourselves. Imagine how upset you would be if the shoe was on the other foot.
The landlord accepted your deposit after you signed the agreement, and then they suddenly call you to say they`ve changed their mind and are passing the place on to someone else. They would be upset because he made a commitment by signing the agreement. I signed a lease in Missouri and was unable to take possession of the property on the agreed date. The toilet was not installed and there was a horrible fate, maybe mold. We don`t have time to move completely before our current lease expires, so we just want to renew it instead of going to this new place. The rental company wants to transfer us to another unit in the same complex, but I remain cautious with the conditions of the second, because the first one was bad. I am willing to give up my bail, but I do not know if I can get out of the lease because we could not take possession. If you have any advice, I would be delighted. If you`re worried that a tenant will retire before moving in, it may be a good idea to make sure your standard lease agreement contains a clear termination clause.
This clause can cover what happens if the tenant leaves the lease prematurely. If you signed the lease, you are bound by the terms. It is best to immediately contact the owner and declare that you no longer want the unit….